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What You Need to Know About the New Cardano (ADA) Ballot

Press Releases Crypto News BeInCrypto What You Need to Know About the New Cardano (ADA) Ballot

Cardano’s Improvement Proposal-1694, known as the Cardano Ballot, will roll out on Friday. Voting is non-binding and will be used to check the community’s sentiment toward Cardano’s push for decentralization, even as the Charles Hoskinson posts a new video from Abu Dhabi.

Voting for the Cardano Ballot will start at 9:44 p.m. UTC and end on Dec. 11 at 21:44 UTC. Holders of participating wallets and users who have staked ADA will be eligible to vote.

Cardano Ballot Brings Stakeholders Together

The question voters must answer is whether Cardano should continue working on minimum-viable on-chain governance. Voters can choose yes or no, or can elect to abstain. New users can buy Cardano before the voting to become eligible.

Staking users must have delegated their ADA tokens to a stake pool by Nov. 20. There are no transaction fees. And the results of the ballot will be revealed on Dec. 16.

Read more: How To Stake Cardano (ADA)

The Cardano Foundation, Input Output Global, and Intersect helped develop CIP-1694. Intersect brings together the different stakeholders in the Cardano ecosystem. SanchoNet, a new testnet for governance features, was launched in August.

Hoskinson Rails Against Altcoin Haters

The push toward decentralized governance is part of Cardano’s drive to move outside of Input Output Global’s control. It is the end goal of the so-called Voltaire stage in Cardano’s roadmap and will finalize governance mechanisms and the Cardano Treasury management.

In a recent update, Hoskinson opined that the influx of big investment companies gives them the power to control the crypto industry. He railed against those

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Author: David Thomas

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